Silver falls as it loses its safe-haven status.

Silver price overview today November 27, 2024: Silver price decreased due to losing its role as a safe haven.

Today's silver price at Phu Quy Gold Investment Joint Stock Company is listed at 1,125,000 VND/tael for buying price and 1,160,000 VND/tael for selling price in Hanoi . In addition, a survey at other transaction points in Hanoi shows that the silver price is at 942,000 VND/tael (buying) and 971,000 VND/tael (selling). In Ho Chi Minh City, the silver price is somewhat higher, at 943,000 VND/tael (buying) and 973,000 VND/tael (selling). In the international market, the silver price is currently fluctuating at 768,000 VND/ounce (buying) and 773,000 VND/ounce (selling).

Update on silver prices on November 27 in two major markets Hanoi and Ho Chi Minh City

Silver type	Unit	Hanoi		Ho Chi Minh City
		Buy	Sell	Buy	Sell
Silver 99.9	1 amount	942,000	971,000	943,000	973,000
	1 kg	25,107,000	25,905,000	25,159,000	25,956,000
Silver 99.99	1 amount	949,000	979,000	951,000	981,000
	1 kg	25,313,000	26,117,000	25,355,000	26,168.00

Update silver price list 11/27 of Phu Quy Gold Investment Joint Stock Company

Silver type	Unit/VND	Hanoi
		Buy	Sell
Silver bars, Phu Quy 999 silver bars	1 amount	1,125,000	1,160,000
Phu Quy 999 Silver Bar	1 kg	29,999,925	30,933,256

Update world silver price list on November 27, 2024

Unit	World silver price today (VND)
	Buy	Sell
1 Ounce	768,000	773,000
1 only	92,612	93,225
1 amount	926,000	932,000
1 kg	24,697,000	24,860,000

Silver and platinum prices both saw sharp declines due to the weakening of their role as safe havens and profit-taking by investors. Silver ended the session down 3.51% to $30.2 an ounce.

Precious metals saw strong buying interest last week, thanks to their safe-haven status amid rising tensions between Russia and Ukraine. However, the conflict has shown no signs of escalating.

The downward pressure on silver prices in today's trading session mainly came from the strength of the USD. US services PMI data showed that the US economy continued to grow, raising expectations for consumption during the year-end holiday season.

Additionally, shopping events like Thanksgiving and Black Friday have stimulated demand for cash, causing flows to shift from precious metals like silver to riskier assets like stocks and cryptocurrencies.

The US dollar continued to gain, adding to the selling pressure in the silver market. As the greenback strengthens, silver, which is priced in US dollars, becomes more expensive for investors using other currencies.

Source: https://baodaknong.vn/gia-bac-hom-nay-27-11-2024-bac-giam-gia-do-mat-di-vai-tro-la-kenh-tru-an-an-toan-235304.html